MetLife Investment Management LLC Sells 391 Shares of Snowflake Inc. (NYSE:SNOW)

MetLife Investment Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,934 shares of the company’s stock after selling 391 shares during the quarter. MetLife Investment Management LLC’s holdings in Snowflake were worth $2,290,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Modus Advisors LLC increased its stake in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC increased its stake in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares during the last quarter. LRI Investments LLC increased its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the last quarter. Hoylecohen LLC increased its stake in Snowflake by 2.7% in the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock valued at $589,000 after acquiring an additional 115 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in Snowflake by 6.7% in the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after acquiring an additional 115 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the sale, the executive now directly owns 323,731 shares of the company’s stock, valued at $56,348,617.86. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,278 shares of company stock valued at $45,125,233 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Up 6.0 %

NYSE:SNOW opened at $186.55 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.58. The firm has a 50-day moving average of $130.10 and a 200-day moving average of $128.82. The company has a market cap of $62.53 billion, a PE ratio of -55.03 and a beta of 1.03. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Evercore ISI boosted their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada boosted their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Argus began coverage on shares of Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.